<p><strong>London, England</strong><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">By ANUK Staff<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">12.5.12<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Tesco has made the decision to conduct a strategic review of Fresh & Easy. The company is taking all options under consideration. In October, Tesco revealed that new capital investment in Fresh & Easy was to be tightly constrained, allowing the business to focus on reducing costs and improving the profitability.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><img src="https://cdn.andnowuknow.com/legacyWriterImages/freshandeasy_review_body.jpg" alt="Images 12.5.12" /><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The company has now stated, "It is now clear that Fresh & Easy will not deliver acceptable shareholder returns on an appropriate time frame in its current form. We have therefore appointed Greenhill to assist with the review of options. In recent months, we have had a number of approaches from parties interested in acquiring either all or part of Fresh & Easy, or in partnering with us to develop the Fresh & Easy business," according to a recent statement.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The company announced that it will communicate progress on this endeavor in April 2013, when it presents its full year results for the current financial year. The company has also revealed that Tim Mason, an executive at Tesco who lead the company's move to the U.S. is to leave Tesco after 30 years' service with the company.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><img src="https://cdn.andnowuknow.com/legacyWriterImages/mason_1634589b.jpg" alt="Images 12.5.12" /><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Philip Clarke, Chief Executive Officer stated, “I have been clear since my appointment as CEO was announced that my role is to deliver long-term value for shareholders. Following a year in which my priority for Fresh & Easy was to improve its performance, I have now made a fully-informed assessment of its longer term potential." He continues, “Whilst the business has many positives, its journey to scale and acceptable returns will take too long relative to other opportunities. I have therefore decided to conduct a strategic review of Fresh & Easy, with all options under consideration."<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.tescoplc.com/index.asp?pageid=7" target="_new"> Tesco </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
